U.S. $360 bln tech investment gap needs mending

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The U.S. is about $360 billion behind China on R&D spending, relative to GDP. A plan from Congress to increase investment helps bridge the gap, but Beijing has ramped up over decades. Without more, America will fall behind, writes GinaChon.

U.S. Senate Majority Leader Chuck Schumer is putting together several bills aimed at stepping up competition against China. One of the bills was introduced on April 21 and it would rename the National Science Foundation to include technology and establish a related directorate. It would receive $100 billion over five years to fund investments and research in artificial intelligence, robotics, automation and other advanced technology areas.

The Senate Foreign Relations Committee on April 21 passed another plan that would increase international development funding and overseas military assistance to counter China. Another proposal would direct the Federal Communications Commission to provide at least $750 million for a research & development fund to produce 5G alternatives to Huawei Technologies.A worker solders a circuit board at the manufacturing facility of VAS, an Electronics manufacturer in San Diego, California April 14, 2009.

 

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